Spirit AeroSystems’ (SPR) Sector Perform Rating Reiterated at Royal Bank of Canada

Spirit AeroSystems (NYSE:SPR)‘s stock had its “sector perform” rating reiterated by Royal Bank of Canada in a note issued to investors on Tuesday,Benzinga reports. They currently have a $37.25 price objective on the aerospace company’s stock. Royal Bank of Canada’s price objective points to a potential upside of 7.40% from the stock’s current price.

Other equities research analysts have also issued reports about the company. TD Cowen raised Spirit AeroSystems to a “strong-buy” rating in a research report on Thursday, December 19th. StockNews.com started coverage on shares of Spirit AeroSystems in a report on Tuesday, February 4th. They issued a “sell” rating for the company. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $36.00.

Spirit AeroSystems Price Performance

Shares of Spirit AeroSystems stock traded up $0.38 during midday trading on Tuesday, reaching $34.69. The company had a trading volume of 179,820 shares, compared to its average volume of 1,112,864. The stock has a fifty day moving average price of $33.66 and a 200 day moving average price of $33.26. Spirit AeroSystems has a fifty-two week low of $28.30 and a fifty-two week high of $37.08. The firm has a market cap of $4.06 billion, a PE ratio of -2.79 and a beta of 1.80.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company lifted its position in shares of Spirit AeroSystems by 1.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,001 shares of the aerospace company’s stock worth $723,000 after purchasing an additional 332 shares during the period. KBC Group NV grew its holdings in shares of Spirit AeroSystems by 20.1% during the third quarter. KBC Group NV now owns 4,607 shares of the aerospace company’s stock valued at $150,000 after buying an additional 771 shares during the last quarter. R Squared Ltd bought a new stake in shares of Spirit AeroSystems in the 4th quarter worth $30,000. SBI Securities Co. Ltd. bought a new stake in Spirit AeroSystems in the 4th quarter worth about $32,000. Finally, Waldron Private Wealth LLC purchased a new stake in Spirit AeroSystems in the third quarter worth approximately $32,000. 93.59% of the stock is currently owned by hedge funds and other institutional investors.

Spirit AeroSystems Company Profile

Spirit AeroSystems Holdings, Inc engages in the design, engineering, manufacture, and marketing of commercial aerostructures worldwide. It operates through three segments: Commercial, Defense & Space, and Aftermarket. The Commercial segment offers forward, mid, and rear fuselage sections and systems, floor beams, nacelles, struts/pylons, horizontal and vertical stabilizers, flaps and slats flight control surfaces, wing structures, and wing systems.